Home improvement is a normal part of owning a house and many homeowners consider it to be a way to increase their property value. However, it’s important to understand that not all home improvement projects will make a good return on investment. Our tools help you compare the cost of popular home improvement projects with their potential impact on your resale value and help you make smart choices that can save money.
While whole-home renovations can add value, they’re expensive and risky. It’s also wise to talk with a real estate agent before undertaking any major projects to learn about what renovations are most likely to pay off when it comes time to sell.
According to the American Housing Survey, homeowners are spending more than ever on home improvements. From 2017 to 2019, they took on an estimated 115 million projects. Some of the biggest spikes were in outside projects, like adding a deck or fence. Others were in interior work, such as painting or replacing windows.
Whether you’re planning on selling or just want to make your house more comfortable, there are many ways to improve your home without going into debt or ransacking your savings. Simple updates such as re-grouting tile, painting walls, or power washing the exterior can give your home a fresh new look. Be sure to keep safety in mind when working on any type of home improvement project and always hire a licensed contractor for electrical or plumbing work.